Friday, 8 January 2010
CNR Corp, one of China’s top two train makers, limped in with a lukewarm market debut after its US$2 billion IPO here, signalling investors’ intolerance for high valuations as a flood of new equity awaits next year.
Mainland property prices have increased more than threefold since housing reform was instituted in 1998. Fuelled by an economic boom, income growth and limited investment channels, buying a home became a sure bet for most mainlanders even though the government repeatedly brought in tough measures whenever the market showed signs of overheating.
Thursday, 7 January 2010
In the beginning, there was the Forbes list of China’s richest. Then came the more locally flavoured Hurun report with its own tally of mainland billionaires.
Kunming officials have once again become the butt of jokes among the public for claiming the collapse of a bridge on the city’s new airport highway could be due to “weather, such as strong wind”.
Sino-Environment shareholders, who have been treated to a roller-coaster ride with the dramatic unfolding of events last year, are now greeted with the sudden resignations of its executive directors and an unsettling probe conclusion by the Fuzhou Public Security Bureau in China.
A little over 10 years ago, before deregulation kicked in and when retail punters enjoyed up to a week of credit from their stockbrokers in exchange for payment of one per cent brokerage, becoming a remisier was seen as something enviable. Many were willing to consider it as a realistic career option because of the rewards it offered. Back in those halcyon days, retail participation was plentiful and came about mainly through picking up the telephone, ringing one’s remisier to discuss trading ideas, and then placing one’s orders. At one time in the market’s heyday during the mid-to-late 1990s, brokers had to install additional telephone lines, such was the demand for remisiers’ services.
A war of words has broken out over a provincial government’s claim to have uncovered the tomb of legendary ruler Cao Cao, underscoring the heightened scepticism towards mainland officialdom.
Boutique and independent financial advisers are moving onto the turf of private banks in Asian wealth management centre Singapore, looking to poach emerging millionaire clients in the region.
Kunming is in the midst of an infrastructure boom that is frenzied even by mainland standards, but construction of a number of projects is on hold following the collapse of a bridge connecting the new airport.